Tax on cash withdrawal

[citation needed] During 2015, when Greek economy was on the verge of bankruptcy, millions of panicked citizens completely cleared their accounts - by pulling more than €28 billion out of banks and pushing the total cash revenue held in the country's financial institutions to a 10-year low.

It was expected that it won't impact day-to-day withdrawals and it will deter citizens from clearing out their bank accounts.

In Pakistan, banking companies are required to deduct an advance adjustable tax at a rate of 0.6% on cash withdrawals exceeding fifty thousand rupees per day.

Explanation: For removal of doubt, it is clarified that the said fifty thousand rupees shall be aggregate cash withdrawals in a single day.

Explanation: For removal of doubt, it is clarified that the said fifty thousand rupees shall be aggregate withdrawals from all the bank accounts in a single day.

[7] From 2005 to 2008, the UPA led government of India imposed tax on withdrawals of more than Rs 50,000.00 from current accounts for detection of unaccounted money in the absence of alternative methods.

Economic times criticized BTT stating it was "regressive and iniquitous" and it "could push India further back" citing reasons of a parallel economy where the poor and the rich will have to pay the equivalent amount of taxes.